Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Sells $156,930.50 in Stock

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) CEO Robert Barrow sold 16,519 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $9.50, for a total value of $156,930.50. Following the completion of the sale, the chief executive officer now directly owns 580,202 shares in the company, valued at approximately $5,511,919. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Mind Medicine (MindMed) Trading Down 3.7 %

Mind Medicine (MindMed) stock opened at $9.50 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.22 and a quick ratio of 3.22. Mind Medicine has a 52 week low of $2.41 and a 52 week high of $11.10. The business’s fifty day moving average is $5.99 and its two-hundred day moving average is $4.23.

Mind Medicine (MindMed) (NASDAQ:MNMD) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.11). On average, equities analysts forecast that Mind Medicine will post -1.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MNMD. Canaccord Genuity Group began coverage on Mind Medicine (MindMed) in a research note on Tuesday, December 5th. They issued a “buy” rating and a $9.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of Mind Medicine (MindMed) in a research note on Thursday, March 14th. Finally, Royal Bank of Canada boosted their price target on Mind Medicine (MindMed) from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $24.83.

Hedge Funds Weigh In On Mind Medicine (MindMed)

Large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Mind Medicine (MindMed) by 60.7% during the second quarter. Royal Bank of Canada now owns 7,474 shares of the company’s stock valued at $27,000 after acquiring an additional 2,824 shares during the period. Qube Research & Technologies Ltd bought a new stake in Mind Medicine (MindMed) in the third quarter valued at about $28,000. Virtu Financial LLC bought a new stake in Mind Medicine (MindMed) in the first quarter valued at about $29,000. Regal Investment Advisors LLC bought a new stake in Mind Medicine (MindMed) in the third quarter valued at about $46,000. Finally, Commonwealth Equity Services LLC bought a new stake in Mind Medicine (MindMed) in the third quarter valued at about $53,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

Mind Medicine (MindMed) Company Profile

Mind Medicine (MindMed) Inc, a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders. The company's lead product candidates include MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder; and MM-402, a R-enantiomer of 3,4-methylenedioxymethamphetamine for the treatment of core symptoms of autism spectrum disorder.